I completed an article saying that First Time Buyers have less of a chance of home ownership than their counter parts from 20-30 years ago. See article here https://www.mortgagestrategy.co.uk/ifs-damns-young-adults-homeownership-chances/ It is the first article that I have read stating the truth as to the reason why. Most article that I have read are showing the divide between the static income vs increase price argument but, this one stated the real problem. The real problem is regulation. 20 years ago,
I have completed reading an article stating that millions of mortgage customers could face “shock” of a potential rate rise by the end of the month. Read here https://www.thesun.co.uk/money/5505102/millions-of-homeowners-could-face-shock-mortgage-bill-rise-this-month-heres-how-to-avoid-it/ When you look at the real monthly figures, too me it does not look that bad. The example used on a £250,000.00 mortgage over a five-year fixed rate, could go up by £30.00 per month. Really!!!! This will be a shock????
I have completed an article about a lending slump during December 2017. Read here https://www.mortgagestrategy.co.uk/mortgage-lending-slump-december-bank-england/ I would agree about a lending slump but not in December, as our figure show that we did more business leading up to Christmas than we had over the last 5 years. January, on the other hand, has been very quiet for most of the businesses in our industry. Maybe Scotland is one month behind the trend in England, but it is interesting contras.
I have finished an article on how over 55 are now doing equity release mortgages in large number. Higher than ever before. Read Here http://www.telegraph.co.uk/personal-banking/mortgages/babyboomers-release-cash-homes-record-numbers/ This is understandable because since 2009 there is very little incentive to save and people have gotten use to spending. The only cash available is the equity in their homes. This will work for our over 55’s generation but what about the next? I fear that future
I just finished reading an article about how the mortgage fixed rate products are being kept low because of a sluggish housing market. Read here if you are interested. http://www.telegraph.co.uk/personal-banking/mortgages/sluggish-housing-market-keeps-mortgage-rates-rock-bottom-even/ It amazes me on the flip flog news article I am seeing of late. One article stating that rates are going up and expect doom and gloom and then others saying how the rate will stay low. I know everyone has an opinion, but these are